CSX to price three-tranche offering of notes due 2026, 2046 and 2066

By Devika Patel

Knoxville, Tenn., Oct. 13 – CSX Corp. intends to price a three-part offering of fixed-rate notes, according to a 424B2 filing with the Securities and Exchange Commission.

The deal includes notes due 2026, 2046 and 2066.

The 2026 notes have a make-whole call until three months before maturity and are then callable at par.

The 2046 notes have a make-whole call until six months before maturity and are then callable at par.

The 2066 notes have a make-whole call until six months before maturity and are then callable at par.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and UBS Investment Bank are the bookrunners.

Proceeds will be used to redeem in full the company’s 5.6% notes due May 1, 2017, its 6.25% notes due March 15, 2018 and its 7.375% notes due Feb. 1, 2019, and for general corporate purposes, which may include repurchases of common stock, capital investments, pension contributions, working capital requirements, productivity improvements and other cost reductions at CSX’s major transportation units.

The transportation company is based in Jacksonville, Fla.

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